Reserve bank of India is planning for the plastic notes, a well ambitious work to do in India. In starting this is only on trial basis with 10 rupees note.
Deputy Governor of RBI, Mr. K.C.Chakrabarty said in a meeting on Tuesday 17-April 2013.
He said that Rs. 10 note will be introduced soon in plastic on trial basis and only in select cities.
This is the move to increase the life of currency notes as well as to counter fake currency. There is a big problem of fake currency in India.
Banks did a lot of efforts to increase the life of notes like banning staple the notes packet and writing on the notes. But people as well as bank officials do not follow of not writing on the notes. This decrease the life of notes. He said that the average life of a note in India is less than 9 months.
Also replying to some queries of the public, he said that RBI is doing its best to let the public about checking the genuineness of the currency. When asked ATMs also withdraw fake notes? He said there should be a mechanism for customers to check the genuineness money withdrawn from ATMs.
Keywords-plastic notes in india,10 rupees plastic notes in india,plastic note in india,plastic note,indian currency in plastic,plastic note 10 rupees